GDP - Goodrich Petroleum: Slightly Lowered 2021 Production Expectations Due To Timing And Weather

• Goodrich slightly lowered 2021 production expectations due to the timing of completions and weather-related shut-ins.
• It is still expected to generate around $17 million in positive cash flow at current strip prices, while growing production 20+% from 2020 levels.
• Goodrich extended its second-lien note maturity to May 2023 and also issued $15 million in additional second-lien notes.
• Goodrich's reserve value is still primarily PUD, and it will need to continue efficient development of its reserves to generate additional value.

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